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Uptrend ExhaustionArchive
- 10/18/2024 -
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S&P 500 (^GSPC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a sixth consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 49.64 points, or 0.85%, and closed at 5864.67 on Friday, October 18, 2024. Weekly volume was -11% below average.
 Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 3491.58 and reached 5878.46 on October 17, 2024. ^GSPC gained -2386.88 points, or -68.36%, in 105 weeks. Price is near the trend high.
 Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 5119.26 and reached 5878.46 on October 17, 2024. ^GSPC gained -759.20 points, or -14.83%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (5825.35) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 27, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See ^GSPC short-term trend chart]
A short-term uptrend had started on September 6, 2024 at 5402.62 and reached 5878.46 on October 17, 2024. ^GSPC gained -475.84 points, or -8.81%, in 41 days. The chart has formed a Rising Channel chart pattern.
 Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since October 9, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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